What Are the CashBox DEBIT Cards and the GenieCard Platinum Visa Debit Cards?
The CashBox DEBIT Card and the GenieCard Platinum are a part of a digital wallet service, offered by Genie Gateway, known as the CashBox, which enable users to make electronic purchase both **Closed Loop and *Open Loop by securely storing information for multiple payment methods. Both allow users to connect their accounts to multiple ways to pay.
While both services make it easy to send money to other users, the CashBox DEBIT Card is more focused on **Closed Loop payments, face-to-face, on the phone, or online, the GenieCard Platinum is more dedicated to *Open Loop payments which can be used anywhere Visa is accepted.
**Closed Loop CashBox DEBIT Card payments are much faster, safer and eliminate the Risk of Chargebacks, Provide Customer Privacy with No Need to Disclose their Social Security Number or Banking Information to get a CashBox DEBIT Card.
How do the CashBox DEBIT Cards and the GenieCards Work?
Both CashBox DEBIT Cards GenieCards process payments using either the existing balance in each of their respective accounts or by drawing funds from connected accounts. Both services can be accessed online or mobile apps and request payments through their respective mobile APP.
Who Should Use a CashBox DEBIT Card or a GenieCard?
The CashBox DEBIT Card is best to process contactless **Closed Loop payments, by high risk merchants, from their customers, face-to-face, by phone or online, in real time. The CashBox DEBIT Card enables customers to use their cell phone number as the "New Way to Pay" in a secure way, as they must approve each payment, to a text message automatically displayed on their cellphone within seconds from submitting a payment. This extra security feature eliminates chargebacks and disputes.
The GenieCard provides *Open Loop payments, and should be used by all merchants who accepts Visa Debit Card, payments, face-to-face, by phone, or online.
How do we evaluate the CashBox DEBIT Card VS. the GenieCard Platinum Visa Debit Card?
In comparing the CashBox DEBIT Card VS. the GenieCard, we looked first at the users each served. We also looked at what fees each charged, how easy the service was to use, what protections each offered to its customers.
In general, although both services are provided by Genie Gateway, these services are by far more robust, secure, and a safe option for processing payments. For sending money quickly and easily to friends and family, however, the CashBox DEBIT Card is the better choice.
*What are OPEN LOOP Payments:
Open Loop is any payment that is on the Financial networks such as Banking, ATM's, Visa, MC, AMEX, Disc., Bank Debit Card, ACH, Wire, Checks/Check-21 and Money Orders
**What are CLOSED LOOP Payments:
Closed Loop is a direct payment that does not utilize the Traditional Open Loop Payment Networks